Investors react to US attack on Iran nuclear sites
President Donald Trump on Saturday said that a "very successful attack" on three nuclear sites in Iran had been carried out. In a posting on Truth Social, Trump added, "All planes are safely on their way home" and he ended his posting saying, "Now is the time for peace."
Following are comments from some financial and corporate analysts:
Mark Spindel, CIO, Potomac River Capital, Washington, DC:
"I think the markets are going to be initially alarmed and I think oil will open higher. We don't have any damage assessment and that will take some time. Even though he has described this as 'done', we're engaged. What comes next? I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil.
"There's plenty of time to deliberate before markets open on Sunday. I'm making arrangements to talk to a few people tomorrow. We'll get an early indication when the dollar opens for trading in New Zealand. This was such a bold action, though, and it's such a big contrast to the comments about negotiating for the next two weeks."
Jamie Cox, Managing Partner, Harris Financial Group, Richmond, Virginia:
'Oil is sure to spike on this initial news but will likely level in a few days. With this demonstration of force and total annihilation of its nuclear capabilities, they've lost all of their leverage and will likely hit the escape button to a peace deal."
Mark Malek, Chief Investment Officer, Siebert Investment Officer, Siebert Financial, NYC:
"I think it's going to be very positive for the stock market. I believe that on Friday if you'd asked me, I would have expected two weeks of volatility with markets trying to analyze every drib and drab of information coming out of the White House and I would have said that it would have been better to make a decision last week.
"So this will be reassuring, especially since it seems like a one and done situation and not as if (the US) is seeking a long, drawn out conflict. The biggest risk still out there is the Strait of Hormuz. It could certainly change everything if Iran has the capability to close it."
Jack Ablin, Chief Investment Officer of Cresset Capital, Chicago:
"This adds a complicated new layer of risk that we'll have to consider and pay attention to... This is definitely going to have an impact on energy prices and potentially on inflation as well."
(Reporting by Saeed Azhar, Suzanne McGee. Compiled by Peter Henderson and Vidya Ranganathan)
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